Tayto is close to winning the race to acquire what’s left of the Golden Wonder snack food business, industry sources have told just-food.
The Northern Ireland snack food group is fronting a consortium that also includes United Biscuits and Proctor & Gamble. The bid has seen off two primary rivals: an MBI team headed by ex-Golden Wonder CEO Clive Sharpe and Global Tea, the multiple-supplier of own-branded tea.
The Tayto bid, which is expected to complete in the next 10 to 14 days, is estimated to be worth in excess of £10 million, the source told just-food.
It is thought that Tayto and United Biscuits have struck a manufacturing agreement that will see United Biscuits take on the Golden Wonder brands Nik-Naks and Wheat Crunchies. However, the brands will continue to be produced at the Golden Wonder Scunthorpe production facility, which will come under Tayto’s ownership.
The deal is not expected to result in any job losses at Scunthorpe.
This will be Tayto’s second deal within weeks to acquire Golden Wonder assets, after the company went in receivership at the beginning of the year. In late January, Tayto announced that it had acquired the Golden Wonder factory in Corby and the contract to make Pringles’ Minis for Procter & Gamble.
However, speaking to just-food at the time, Stephen Hutchinson, managing director of the Irish snack manufacturer, maintained that the company remained interested in the rest of the Golden Wonder business.
Tayto were not immediately available for comment on this latest development, while United Biscuits said that it is company policy not to comment on market speculation.